«Earlier this year, the increasingly tight
rare earths supply situation prompted one environmental journalist in the US to exclaim that we should all kiss our wind turbines goodbye.
Much more likely is a scenario in which Lynas will have to make an additional commitment to safety, and will start its Malaysian refinery — which could eventually put out 22,000 metric tones a year — in one or two months (every month of delay costs Lynas $ 10 million) and make sure
rare earth supply increases even further.
I think it will still be some time before a self - sufficient non-Chinese
rare earth supply chain is established, but as demand for these metals and the products they are used in continues to grow, REE investment can be a profitable choice for the risk - tolerant investor.
The problem of
rare earth supply is one even shared by China's own wind turbine manufacturers.
Not exact matches
It's an exciting prospect, considering
supply on
Earth for such
rare minerals as palladium — used for electronics and industrial purposes — is finite, pushing prices to $ 784 an ounce on April 2.
The 100 % Northern Minerals owned project will operate as a large - scale pilot plant for three years, with the goal of expanding into one of the world's only significant
suppliers for critical heavy
rare earths outside of China.
For Molycorp (MCP) and other
rare earth producers, any delay of additional
supply is good news.
Another way Molycorp tries to stay afloat while
rare earths prices are falling is by being a vertically integrated neodymium (used for magnets)
supplier.
However, after squeezing the
rare -
earths supply chain, the Chinese appear to have turned on the
supply taps and the price of
rare earths has plummeted.
The United States still holds about 13 million metric tons of
rare earth elements according to the US Geological Survey but these
supplies have yet to be exploited.
If any of these technologies is implemented on the scale required to significantly reduce carbon emissions, demand for certain
rare earth elements will almost inevitably exceed current
supply — and quite probably known reserves.
The world is scrambling to open up new sources and reopen old ones, such as Mountain Pass
Rare Earth Mine in California which used to
supply the majority of the world's demand but has been mothballed since 2002.
Even so,
rare earth elements are in short
supply.
And demand for the
rare earths continues to outpace
supply, particularly as China has implemented export quotas.
Until the 1990s, the U.S. was the major
supplier of
rare earths, largely out of one mine in Mountain Pass, Calif., owned by oil company Unocal, now part of Chevron.
Visible from space, the Bayan — Obo iron mine in Inner Mongolia is the world's largest source of
rare earths, and the Chinese companies
supplying them employ acid to dissolve them out of ore rock that often also contains radioactive elements like thorium, radium or even uranium.
China controls 97 per cent of the world's
supply and has been tightening its export quotas, sparking concerns that the
rare earths could live up to their name.
The report suggests the US might break its dependency on China's
rare earth monopoly by looking to other future
suppliers of
rare earths, including Australia and Canada.
In an effort to help develop a sustainable domestic
supply of
rare earth elements and lessen the United States» dependence on China for materials that are vital to the production of electronics, wind turbines, and many other technologies, two researchers at Worcester Polytechnic Institute (WPI) have developed a method of extracting
rare earths from the drive units and motors of discarded electric and hybrid cars.
China has
supplied 91 percent of U.S. consumption of
rare earths between 2005 and 2008, and continues to represent the world's largest
rare earth exporter.
But the Chinese have warned that their own domestic industry appetite for
rare earths may eventually force them to stop exporting — an action that would leave the U.S. high - tech industries crippled without other readily available
supplies.
Unlike the situation with
rare earth metals, though, indium - hungry companies have some
supply options.
But China currently dominates the market for producing
rare earths, accounting for approximately 95 % of the worldwide
supply.
In recent years, China has tightened its grip over its own
rare earths in order to
supply domestic manufacturers, as well as to lure manufacturers abroad to China.
This month, China announced that it will cut exports this year of
rare -
earth elements by 40 %, leaving demand outside China exceeding the
supply for the first time ever.
The discovery is a rather unique way that CMI is addressing global concerns about the
supply and demand of
rare -
earth metals.
The strategy identified five
rare earth metals (dysprosium, neodymium, terbium, europium, and yttrium) as well as indium as «most critical in the short term,» as measured by their importance to clean - energy technologies and the risk of
supply disruption.
A report by the US government's Congressional Research Service estimated that in 2010, China had 55 million tonnes of
rare -
earth element reserves, about half of the world's total, but that it produced about 98 % of the total global
supply.
In recent years, China has set limits on its exports of
rare -
earth elements, driving up global prices and forcing other countries to invest in exploiting their own resources so that they can
supply their high - tech industries.
But «the [Japanese] government's involvement in
rare -
earth research in Vietnam reflects a rapidly growing sense of crisis in Japan» that the island nation will face a serious
supply crunch, says Watanabe.
But there's also opportunity from investing in
rare earths, besides avoiding a
supply chain problem.
Japanese researchers estimate 16M tonnes of
rare earth deposits in deep - sea mud off Japan; hundreds of years of
supply
Despite the order in which you unlock things being randomized I never felt screwed by the system, although there were a few frustrating moments when a building didn't pop up until quite late, but that just meant I had to ensure a steady
supply of
rare metals to
Earth so that I could purchase what I needed.
«We all know the ball has been dropped in this [
rare earths] space and not only by the US but by a whole swath of Western economies,»... The GAO report estimated it could take 15 years for the West to catch up with China and develop alternative
supplies... a senior metallurgist at the US Department of Energy's Ames Laboratory, has been studying
rare -
earth materials since the 1960s.
Rare earth metals are essential for wind turbines and electric vehicles but potential short
supply may become a limiting factor, writes Liu Hongqiao
China currently
supplies 97 % of the so - called
Rare Earths - metal elements which are vital to green technologies like electric cars, fuel cells or wind turbines, not to mention iPhones, plasma screens, and myriads of other consumer goods.
At Copenhagen, politicians talk of cutting carbon emissions, but they can't meet any targets without
rare earth, and that means a sustainable
supply, and not all from China.
Researchers at state universities in the Southeast are closing in on whether one of the region's biggest liabilities — coal mine waste — might become a valuable asset by
supplying rare earth elements needed for clean energy and other applications.
That is we are the ones who are appalled at the polluting in China so
rare earths can be
supplied to the solar and wind industries.
The United States has been concerned for quite some time about China's chokehold on the global
supply of
rare -
earth metals — and has been appealing to the World Trade Organization to rule against China's various export restrictions.
China produces 95 % of the worlds
supply of the
rare earth metal, dysprosium, a key metal in magnets used in the drive motors for hybrid electric vehicles - up to 100 grams of dysprosium per hybrid car produced, according to a Wikipedia reference.
Rare earths — extremely rare elements found in only a few places — are currently critical to wind turbines and other renewable technologies, creating legitimate worries about future suppl
Rare earths — extremely
rare elements found in only a few places — are currently critical to wind turbines and other renewable technologies, creating legitimate worries about future suppl
rare elements found in only a few places — are currently critical to wind turbines and other renewable technologies, creating legitimate worries about future
supplies.
A third of the top worldwide chemical companies are clients, including specialty chemical manufacturers, petrochemical groups, chemical trading companies, fertilizer
suppliers, plastics and rubber makers, producers of powder coatings, recyclers of petroleum refining residuals, performance materials manufacturers and
rare earth element
suppliers.